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Mayor's Office

Emanuel heads to White House after appearance with Clinton

Emanuel says city reviewing medical plan in light of Boston bombing

Emanuel: 'economic realities' in new CHA plans

Emanuel: Planned pipeline aims to pull plug on Northwest Side flooding

Emanuel ducks tough questions about Wrigley ‘framework’

Chicago to be test city in push for wider, cheaper internet

Emanuel celebrates Harvest Commons apartments ribbon cutting

Emanuel stands by court ruling that could insulate him, staff from IG investigation

Wrigley deal said to be close and include extending right- and left-field walls

Mayor proposes closing tax loophole benefitting property investors

Mayor Rahm Emanuel proposed an ordinance at Wednesday’s City Council meeting that closes a property tax loophole, a move he says could save the city about $2 million in tax revenue over the next two years.

The measure amends the city’s Real Property Transfer Tax ordinance to clarify that only lenders such as banks or credit unions – not investors – that are selling or transferring properties foreclosed upon are exempt from paying a property transfer tax.